AICPA读书笔记AUD之Principles Underlying an Audit Conducted（1） - AICPA论坛

I． Principles Underlying an Audit Conducted in Accordance with GAAS

1. Purpose: Provide financial statement users with an opinion by the auditor on whether the financial statements are prepared, in all material respects, in accordance with the applicable financial reporting framework. An auditor’s opinion enhances the degree of confidence that intended users can place in the financial statements.

2. Premise of an audit: Management and, where appropriate, those charged with governance have responsibility

a. For preparation and presentation of the financial statements in accordance with the applicable financial reporting framework; this includes the design, implementation, and maintenance of internal control relevant to the preparation and presentation of financial statements that are free from material misstatement, whether due to fraud or error; and

(1) All information, such as records, documentation, and other matters are relevant to the preparation and presentation of the financial statements.

(3) Unrestricted access to those within the entity from whom the auditor determines it necessary to obtain audit evidence.

1. Auditors are responsible for having appropriate competence and capabilities to perform the audit, complying with ethical. requirements, maintaining professional skepticism, and exercising professional judgment throughout the audit.

1. To express an opinion, the auditor obtains reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error.

2. To obtain reasonable assurance, which is a high but not absolute level of assurance, the auditor

b. Determines and applies appropriate materiality level or levels through the audit.

c. Identifies and assesses risks of material misstatement, whether due to fraud or error, based on an understanding of the entity and its environment, including the entity's internal control.

d. Obtains sufficient appropriate audit evidenceabout whether material misstatements exist, through designing and implementingappropriate responses to the assessed risks.

3. The auditor is unable to obtain absolute assurance that the financial statements are free from material misstatement because of inherent limitations which arise from the

c. Need for the audit to be conducted within a reasonable period of time so as to achieve a balance between benefits and costs.

1. Based on evaluation of the evidence obtained, the auditor expresses an opinion on whether the financial statements are prepared, in all material respects, in accordance with the applicable financial reporting framework, or states that an opinion cannot be expressed, in the form of a written report.